Last month we learned that Wisconsin concluded its 2024 fiscal year with a surplus of $4.6 billion. That figure is less than the previous record of $7 billion Wisconsin had going into its last budget cycle, but exceeds earlier projections.
Republicans who lead the State Legislature have made it clear they want to return the surplus to the Wisconsinites who created it.
“[T]he highest priority is not growing the size of government, but making sure the money can go back into the hands of the people so that they can use it to deal with the inflationary pressures that we’re seeing in every part of our state.”
Assembly Speaker Robin Vos
His counterpart in the Senate agrees.
“The number one issue we heard from voters was the effect of rising costs and inflation. Senate Republicans’ top priority will be returning the state’s surplus to hardworking families.”
Senate Majority Leader Devin Lemahieu
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However, Democratic Governor Tony Evers is preparing his next state budget and has plans to spend the surplus.
“Together, I believe we can build upon our work to invest in public education at every level, support farmers, veterans, and small businesses, address our generational workforce challenges, protect access to healthcare and reproductive freedom, and support working families across Wisconsin.”
Wisconsin Governor Tony Evers
The election is over.
The battle lines over the state surplus have been drawn.
Governor Evers will unveil his 2025-27 state budget proposal in February. The Legislature’s Joint Finance Committee will hold public hearings over the several months that follow and will send their version of the spending plan to the full legislature in June.
It will take an agreement between all three men, or the funds will remain in state coffers.
